Exec says Russia’s VTB lost 24 bln rbl in 2015 due to Transaero

ST. PETERSBURG, Jun 24 (PRIME) -- Suspension of operation of Russian airline Transaero inflicted a 24 billion ruble loss on the country’s second largest bank VTB, which had a significant effect on the bank’s financial performance, Deputy CEO Herbert Moos said Friday during an annual general meeting of the bank’s shareholders.

“In total, VTB’s loss in 2015 (due to Transaero) stood at 24 billion rubles,” he said.

In 2015, Transaero failed to service 250 billion rubles of debt. Its air operator certificate was recalled in October 2015. The company is currently undergoing bankruptcy proceedings.

(64.3212 rubles – U.S. $1)

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